Vard Electro wins major contract from Cochin Shipyard
SEPTEMBER 13, 2016 — Vard Holdings Limited reports that its subsidiary Vard Electro AS has secured a new contract worth about NOK 150 million (about $18.2 million) for the delivery of an
SEPTEMBER 13, 2016 — Vard Holdings Limited reports that its subsidiary Vard Electro AS has secured a new contract worth about NOK 150 million (about $18.2 million) for the delivery of an
CSL received the license after successfully completing the GTT qualification process including membrane tank mock-up installation. It is the first Indian shipyard to be licensed by GTT.
“Obtaining this technology has made a significant positive change to the technical competence and stature of this yard,” said Commodore K Subramaniam, Chairman and Managing Director of CSL. “Going forward, we feel that this technology would help the yard to tap the huge shipbuilding prospects in the LNG vessel segment. Our partnership with Samsung Heavy Industries (SHI) has been a critical factor in CSL completing GTT’s stringent qualification requirements.”
Philippe Berterottière, Chairman and CEO of GTT said that the agreement “marks the beginning of a promising cooperation with CSL. He added thta “building LNG ships in India, with the assistance of Samsung Heavy Industries, will not only enhance the initiative of the ‘Make in India’ objective of the Government of India, but will also provide excellent opportunity to an Indian shipyard in the growing LNG market”.
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